2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Oct. 31, 2012

Summary Of Significant Accounting Policies Tables

Schedule of accounts receivable

	2012		2011
Allowance for doubtful accounts	$	126,674	$	162,611
Reserve for other allowances		47,000		47 ,000
Reserve for sales discounts		40,000		60,000
Totals	$	213,674	$	269,611

Schedule of commodited held by brokers

The Company has open position contracts held by the broker, which are summarized as follows:

	2011			2011
Option contracts	$	253,369		$	129,750
Future contracts		(1,620,758	)		(1,997,308	)
Commodities due to broker	$	(1,367,389	)	$	(1,867,558	)

Included in cost of sales for the years ended October 31, 2012 and 2011, the Company recorded realized and unrealized gains and losses respectively, on these contracts as follows:

	Year Ended October 31,
	2011			2011
Gross realized gains	$	4,112,394		$	2,504,248
Gross realized (losses)		(4,779,697	)		(3,726,983	)
Unrealized gains (losses)		500,169			(2,143,057	)
Total	$	(167,134	)	$	(3,365,792	)

Schedule of earnings per share

	2012		2011
Net Income	$	2,485,677	$	811,930
BASIC EARNINGS:
Weighted average number of common shares
outstanding		6,372,309		5,563,802
Basic earnings per common share	$	0.39	$	0.15
DILUTED EARNINGS:
Weighted average number of common shares
outstanding		6,372,309		5,563,802
Warrants		267,000		267,000
Contingent shares - common stock equivalents				5,000
Weighted average number of common shares
outstanding - as adjusted		6,639,309		5,835,802
Diluted earnings per common share	$	0.37	$	0.14